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Post by rugbytoffee on Jun 20, 2024 9:44:31 GMT
Leading football finance expert Kieran Maguire has given his reaction to Dan Friedkin’s prospective Everton takeover.
The American billionaire has been selected by Farhad Moshiri to complete a purchase of the club after 777 Partners’ deal collapsed last month, having failed to be given the green light by the Premier League. A number of parties came to the table to buy Everton - but Freidkin has seemingly won the race as an exclusivity announcement awaits. The 59-year-old, through the Friedkin Group, already owns Italian side AS Roma after completing a takeover in August 2020 for a reported fee of around £550 million.
Maguire, a lecturer at the University of Liverpool, believes Freidkin is likely to pay a similar amount for Everton as he’s set to take on significant debts. And he believes that Friedkin would have been keeping a close eye for several months on the takeover situation as 777 deal’s stalled.
Speaking on his podcast The Price of Football, Maguire said: “Dan Friedkin is the guy in charge. He's very successful in his own right and, therefore, unlike 777, he appears to have the resources, which is good from an owners' and directors' test perspective. He's got experience of a significant purchase as far as a football club is concerned.
“Roma have had three sixth-place finishes and I'm sure Everton fans would accept that. They have also won the Europa Conference League, they got to the semi-finals of the Europa League this season, and Roma cost them around £500 million. We're probably talking somewhere in the same ballpark in terms of total cost to him in terms of taking over a significant amount of the debts of Everton.
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Post by rugbytoffee on Jun 21, 2024 15:49:43 GMT
Everton have released the following statement. ᴇᴠᴇʀᴛᴏɴ ꜰᴏᴏᴛʙᴀʟʟ ᴄʟᴜʙ ᴡᴏᴜʟᴅ ʟɪᴋᴇ ᴛᴏ ᴘʀᴏᴠɪᴅᴇ ꜰᴀɴꜱ ᴀɴᴅ ꜱᴛᴀᴋᴇʜᴏʟᴅᴇʀꜱ ᴡɪᴛʜ ᴀɴ ᴜᴘᴅᴀᴛᴇ ʀᴇɢᴀʀᴅɪɴɢ ɴᴇᴡ ɪɴᴠᴇꜱᴛᴍᴇɴᴛ ɪɴᴛᴏ ᴛʜᴇ ᴄʟᴜʙ. ʙʟᴜᴇ ʜᴇᴀᴠᴇɴ ʜᴏʟᴅɪɴɢꜱ ʜᴀꜱ ʀᴇᴄᴇɪᴠᴇᴅ ꜱɪɢɴɪꜰɪᴄᴀɴᴛ ɪɴᴛᴇʀᴇꜱᴛ ꜰʀᴏᴍ ꜱᴇᴠᴇʀᴀʟ ʜɪɢʜʟʏ ʀᴇꜱᴘᴇᴄᴛᴇᴅ ᴘᴀʀᴛɪᴇꜱ ɪɴᴛᴇʀᴇꜱᴛᴇᴅ ɪɴ ɪɴᴠᴇꜱᴛɪɴɢ ɪɴ ᴛʜᴇ ᴄʟᴜʙ. ᴛʜᴇ ᴄʟᴜʙ ᴄᴀɴ ᴄᴏɴꜰɪʀᴍ ᴛᴏᴅᴀʏ [21 ᴊᴜɴᴇ] ᴛʜᴀᴛ ᴀ ᴘᴇʀɪᴏᴅ ᴏꜰ ᴇxᴄʟᴜꜱɪᴠɪᴛʏ ʜᴀꜱ ʙᴇᴇɴ ɢʀᴀɴᴛᴇᴅ ᴛᴏ ᴛʜᴇ ꜰʀɪᴇᴅᴋɪɴ ɢʀᴏᴜᴘ ᴛᴏ ᴘʀᴏɢʀᴇꜱꜱ ᴅɪꜱᴄᴜꜱꜱɪᴏɴꜱ ᴛᴏ ᴀᴄQᴜɪʀᴇ ᴀ ᴍᴀᴊᴏʀɪᴛʏ ꜱʜᴀʀᴇʜᴏʟᴅɪɴɢ ɪɴ ᴇᴠᴇʀᴛᴏɴ. ᴀʟʟ ᴘᴀʀᴛɪᴇꜱ ᴡɪʟʟ ɴᴏᴡ ᴡᴏʀᴋ ᴛᴏɢᴇᴛʜᴇʀ ᴛᴏ ᴄᴏɴᴄʟᴜᴅᴇ ᴛʜɪꜱ ᴘʀᴏᴄᴇꜱꜱ. ɪɴ ᴛʜᴇ ᴍᴇᴀɴᴛɪᴍᴇ, ᴛʜᴇ ᴄʟᴜʙ ᴡɪʟʟ ᴄᴏɴᴛɪɴᴜᴇ ᴛᴏ ᴏᴘᴇʀᴀᴛᴇ ᴀꜱ ɴᴏʀᴍᴀʟ. ᴡʜᴇɴ ᴛʜᴇʀᴇ ɪꜱ ꜰᴜʀᴛʜᴇʀ ɴᴇᴡꜱ ᴛᴏ ꜱʜᴀʀᴇ, ɪᴛ ᴡɪʟʟ ʙᴇ ᴘʀᴏᴠɪᴅᴇᴅ ᴠɪᴀ ᴛʜᴇ ᴄʟᴜʙ’ꜱ ᴏꜰꜰɪᴄɪᴀʟ ᴄᴏᴍᴍᴜɴɪᴄᴀᴛɪᴏɴ ᴄʜᴀɴɴᴇʟꜱ.
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Post by rugbytoffee on Jun 30, 2024 20:49:27 GMT
Dan Friedkin could complete his takeover deal to buy Everton in the next four to six weeks after paying off one of the club’s biggest debts.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the American businessman should be able to get through the Premier League’s owners’ and directors’ relatively easily compared to 777 Partners. 777 were granted exclusivity last September in its bid to buy Everton, but the Miami-based company were unable to complete the deal.
The Friedkin Group has now become the latest party to be given the opportunity to take on Farhad Moshiri’s 94.1 per cent stake in the Merseysiders after agreeing a deal in principle with the club’s owner.
The takeover has moved a step closer after the Texan company has paid off the club’s £158million loan to New York investment firm MSP Sports Capital.
Borson expects Friedkin will have had extensive discussions about the legal details surrounding Everton before it was announced he had paid off the debt. He told Football Insider: “Friedkin now has to complete his due diligence, which you would think would be a relatively smooth process because all of the data will already be in the data rooms.
“I would expect Friedkin would have had extensive discussions before the announcement about the legal details of Everton, its contracts and everything else. “You would think Friedkin would be able to get through the owners’ and directors’ test relatively easily as well compared to 777 Partners.
“You would assume in the next four to six weeks Friedkin will be able to complete that transaction and Everton’s future can begin.”
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Post by jimmy on Jul 3, 2024 9:17:45 GMT
It can't happen soon enough now.
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Post by rugbytoffee on Jul 3, 2024 15:32:47 GMT
It can't happen soon enough now. Hopefully before the start of the season?
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